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Make it a toilet-style queue system. You just have 1 queue, and the next person in line gets to choose from the whole list of available projects at the moment. If they don't want any, then they go back to queue.
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If a couple accumulates three consecutive unsuccessful applications for Standard flats, their fourth...
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Maybe HDB could prioritise genuine first-timers with urgent housing needs a bit more, so couples who are ready to settle down don’t have to keep waiting for years.